YIT Oyj (OTCPK:YITYY)

$ 1.29 0 (0%) Market Cap: 594.88 Mil Enterprise Value: 1.52 Bil PE Ratio: 0 PB Ratio: 0.75 GF Score: 53/100

Q2 2020 Yit Oyj Earnings Call Transcript

Jul 28, 2020 / 07:00AM GMT

Release Date Price: $3.73

Transcript

Tommi JÃ;rvenpÃ;Ã;YIT Oyj;VP of IR

¤¤¤,-

Good morning, and welcome to YIT's second quarter earnings webcast. My name is Tommi JÃ¤rvenpÃ¤Ã¤. I'm the Head of YIT's Investor Relations. With me here today are also our CEO, Kari Kauniskangas; and CFO, Ilkka Salonen.

We will first go through the presentation followed by the Q&A. At this point, I would like to hand over to our CEO, Kari. Please go ahead.

Kari Kauniskangas

YIT Oyj - Chairman of Management Board, CEO, President & Head of the Housing Segment

Thank you, and good morning also on my behalf. Let's start with the strategy. Despite of the corona pandemic, we are taking steps according to our strategy. As you remember, we have 2 key targets: improve our profitability; and secondly, maintain and defend our social stability. During Q2, we saw significant improvement in gearing, thanks to stronger operative cash flow than year ago and also sale of paving business at the beginning of the quarter.

We continue to strengthen balance

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